SEC Form 4 · accession 0001008886-26-000199

NELNET INC · NNI

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

James D Kruger

Officer — Chief Financial Officer

Period of report

Jul 9, 2026

Accepted (ET)

Jul 10, 2026 · 5:28 pm EDT

Rule 10b5-1 plan

box not checked

Issuer CIK

0001258602

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Class A Common Stock^F1	Jul 9, 2026	G	2,500	$0.00	D	2,500	I	By Trust
Class A Common Stock^F2	holding	—	—		—	69,569	D
Class A Common Stock^F3	holding	—	—		—	6,800	I	By GRAT
Class A Common Stock^F4	holding	—	—		—	6,800	I	By GRAT
Class A Common Stock^F5	holding	—	—		—	5,000	I	By Trust
Class A Common Stock^F6	holding	—	—		—	10,000	I	By Trust
Class A Common Stock^F7	holding	—	—		—	45,192	I	By revocable trust
Class A Common Stock^F8	holding	—	—		—	45,000	I	By revocable trust
Class A Common Stock	holding	—	—		—	8,200	I	By spouse

Table II — derivative securities

No Table II lines on this filing.

Explanation of responses

F1Represents the distribution of shares to an adult son of the reporting person from a trust for the benefit of such adult son of the reporting person. The reporting person continues to report beneficial ownership of the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F2Includes 4,729 shares issued pursuant to the issuer's Employee Share Purchase Plan. Also includes 1,000 shares held jointly with spouse.
F3Shares held by a grantor retained annuity trust ("GRAT") established by the reporting person on September 1, 2021. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F4Shares held by a GRAT established by the reporting person's spouse on September 1, 2021. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F5Shares held by a trust for the benefit of another adult son of the reporting person. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F6Shares held by a trust for the benefit of an adult daughter of the reporting person. The reporting person continues to report beneficial ownership of all the shares held by the trust, but disclaims beneficial ownership of the shares held by the trust except to the extent of his pecuniary interest therein.
F7Shares held by a revocable trust established by the reporting person, of which trust the reporting person is the sole trustee and sole lifetime beneficiary.
F8Shares held by a revocable trust established by the reporting person's spouse, of which trust the reporting person's spouse is the sole trustee and sole lifetime beneficiary.